We were challenged by one of our clients, user of SAP Financial Consolidation, back in summer 2016, to find an and easy-to-implement solution for their IFRS 16 calculations and reporting needs. Back then, they were not satisfied with the level of maturity of the solutions presented to them and wanted to find a pragmatic approach, leveraging their existing tools.
Satriun has developed for them an add-on for SAP Financial Consolidation, that later became Satriun Lease Management (‘SLM’). Over 30 different SAP Financial Consolidation users have since added SLM on top of their group consolidation and reporting platform and are happily using it for recording lease contract data, performing IFRS 16 calculations and integrating the produced journals with their consolidation application and pushing them in their ERP. The solution has recently also been adapted to the US GAAP-equivalent of IFRS 16: ASC 842.
In a nutshell, SLM is a pre-configured Lease Accounting calculation engine, covering IFRS 16 and US GAAP ASC 842 used to centralize you leases, calculate and analyze IFRS16 or ASC 842 impacts and send IFRS 16 or ASC 842 restatement entries to your accounting tool(s) or directly to your SAP Financial Consolidation group application. SLM leverages existing investments of our clients in SAP Financial Consolidation, does not need a separate installation and infrastructure, implements within weeks and users familiar with SAP Financial Consolidation will need virtually no training.